Wednesday, March 17, 2010
I am working on developing a 3 credit course in Real Estate Transactions for the fall semester at Wake Forest Law School. I would love to hear from PropertyProfs who are already teaching such a class.
Here is the blurb that I have written about my new course:
Real Estate Transactions. This course will provide a survey of the legal and business issues relating to the acquisition, development, leasing, and disposition of commercial real estate, with a focus on the issues arising in the development and ownership of large commercial developments such as shopping centers and office buildings. This course will include a skills component and students will participate in negotiating and drafting a real estate contract (purchase agreement or lease) for a hypothetical client.
My thought is to spend some time going through the major legal and business issues in the acquisition of real estate, then split the class. Half would represent the seller and half would represent the buyer in a hypothetical transaction. We would do in-class negotiation (one on one or in pairs) and then draft components of the purchase agreement in teams. They would go through several rounds of this in small groups and we would debrief as a class each day. I've tried this kind of exercise in a legal writing/contract drafting class and it was very effective.
I would then go through the same pattern with a lease -- lecture on the main concepts and then have them negotiate and draft provisions.
Has anyone tried this kind of method before and can offer some thoughts? Or have you tried another approach and found it to be successful?
As a textbook, I am thinking of using the ABA's Practical Guide to Commercial Real Estate Transactions, because I am familiar with that book. I will also supplement with my own materials. I know that there are other good books out there. Any recommendations?
I would love to see sample syllabi, etc. My e-mail is marshlaw at me.com.
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